Onconova Therapeutics Inc (NASDAQ:ONTX) rose 9.9% during trading on Thursday . The stock traded as high as $1.97 and last traded at $1.89. Approximately 834,163 shares changed hands during mid-day trading, an increase of 26% from the average daily volume of 661,233 shares. The stock had previously closed at $1.72.

ONTX has been the subject of several recent analyst reports. HC Wainwright set a $6.00 target price on shares of Onconova Therapeutics and gave the company a “buy” rating in a research note on Thursday, January 4th. Maxim Group downgraded shares of Onconova Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Zacks Investment Research downgraded shares of Onconova Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $7.33.

The company has a market cap of $20.36, a P/E ratio of -0.62 and a beta of 0.10.

Onconova Therapeutics (NASDAQ:ONTX) last issued its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.73) by $0.02. Onconova Therapeutics had a negative net margin of 2,855.94% and a negative return on equity of 558.97%. The company had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.29 million. equities research analysts predict that Onconova Therapeutics Inc will post -2.82 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Onconova Therapeutics by 58.4% during the second quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock worth $190,000 after acquiring an additional 32,418 shares in the last quarter. 683 Capital Management LLC increased its position in shares of Onconova Therapeutics by 21.0% during the third quarter. 683 Capital Management LLC now owns 375,000 shares of the biopharmaceutical company’s stock worth $641,000 after acquiring an additional 65,140 shares in the last quarter. Sabby Management LLC increased its position in shares of Onconova Therapeutics by 104.0% during the second quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock worth $1,693,000 after acquiring an additional 399,640 shares in the last quarter. Finally, Tyndall Capital Partners L P increased its position in shares of Onconova Therapeutics by 91.4% during the second quarter. Tyndall Capital Partners L P now owns 997,022 shares of the biopharmaceutical company’s stock worth $2,154,000 after acquiring an additional 476,190 shares in the last quarter. 25.44% of the stock is owned by institutional investors.

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Onconova Therapeutics Company Profile

Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company operates through the identification and development of oncology therapeutics segment. It is focused on discovering and developing small molecule drug candidates to treat cancer. The Company has created a targeted anti-cancer agents designed to work against specific cellular pathways that are important to cancer cells.

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